Do we take an RMD from a Roth? The answer is no, while you’re alive. With the Roth IRA there are no Required Minimum Distributions while you’re alive. However, due to the Secure Act, when someone inherits a Roth, they do have to take money out of the Roth within ten years. The...
To convert money from a traditional retirement account to a Roth account, you must pay income tax on the converted amount. That’s why making a conversion during low income – and thereby low tax – years makes sense. For some people, these years may be at the start of retirement wh...
After conversion, the funds will grow tax-free. You generally can withdraw “qualified distributions” tax-free as long as you have held the account for at least five years; and Roth IRAs do not come with RMD obligations. Plus, you can withdraw from a Roth IRA tax- and penalty-free f...